The National Flood Insurance Program Is a Disaster

For any form of insurance plan to remain viable, the income from policy payments must exceed the payouts for losses. Thus, that is the issue the National Flood Insurance Program has. Too much money going out, not enough coming in. This article, The country’s flood insurance program is sinking. Rescuing it won’t be easy, highlights some of the issues, but passes over the real challenge of a lack of political leadership and Congress people worrying more about getting re-elected than they are about good government. I don't hear a chorus of Republican senators and congressmen calling for individual responsibility when it comes to flooding.

I don't expect any fixes coming soon that are true fixes. That was tried five years ago, and when people got their increased premium bills, the gutless legislators ran for the hills.

Claire Rubin shared the link above.